Ecuador: Market for Motor Vehicle Chassis Fitted With Engines 2024

Market Size for Motor Vehicle Chassis Fitted With Engines in Ecuador

The Ecuadorian market for motor vehicle chassis fitted with engines shrank to $X in 2022, with a decrease of -8.9% against the previous year. Over the period under review, consumption showed a abrupt decline. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Motor Vehicle Chassis Fitted With Engines in Ecuador

In value terms, production of motor vehicle chassis fitted with engines amounted to $X in 2022 estimated in export price. Overall, production, however, posted resilient growth. The pace of growth was the most pronounced in 2013 when the production volume increased by 36% against the previous year. Over the period under review, production of reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Motor Vehicle Chassis Fitted With Engines

Exports from Ecuador

In 2022, shipments abroad of motor vehicle chassis fitted with engines decreased by -36.4% to X units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, saw a resilient expansion. The growth pace was the most rapid in 2014 when exports increased by 233% against the previous year. Over the period under review, the exports of reached the maximum at X units in 2021, and then fell remarkably in the following year.

In value terms, exports of motor vehicle chassis fitted with engines declined significantly to $X in 2022. In general, exports, however, recorded prominent growth. The pace of growth appeared the most rapid in 2014 when exports increased by 324%. The exports peaked at $X in 2021, and then reduced remarkably in the following year.

Exports by Country

Colombia (X units) was the main destination for exports of motor vehicle chassis fitted with engines from Ecuador, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Colombia stood at +13.3%.

In value terms, Colombia ($X) emerged as the key foreign market for motor vehicle chassis fitted with engines exports from Ecuador.

From 2012 to 2022, the average annual rate of growth in terms of value to Colombia totaled +10.1%.

Export Prices by Country

The average export price for motor vehicle chassis fitted with engines stood at $X per unit in 2022, rising by 13% against the previous year. In general, the export price, however, continues to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2014 when the average export price increased by 27% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Colombia.

From 2012 to 2022, the rate of growth in terms of prices for Peru amounted to +128.3% per year.

Imports of Motor Vehicle Chassis Fitted With Engines

Imports into Ecuador

In 2022, the amount of motor vehicle chassis fitted with engines imported into Ecuador dropped to X units, shrinking by -6.1% compared with the previous year's figure. In general, imports faced a abrupt curtailment. The most prominent rate of growth was recorded in 2017 when imports increased by 77%. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of motor vehicle chassis fitted with engines reduced to $X in 2022. Overall, imports showed a deep reduction. The most prominent rate of growth was recorded in 2017 when imports increased by 36% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports of remained at a lower figure.

Imports by Country

In 2022, Japan (X units) constituted the largest motor vehicle chassis fitted with engines supplier to Ecuador, with a 60% share of total imports. Moreover, imports of motor vehicle chassis fitted with engines from Japan exceeded the figures recorded by the second-largest supplier, Colombia (X units), fivefold. The third position in this ranking was held by South Korea (X units), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Japan stood at -11.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (-11.3% per year) and South Korea (+4.4% per year).

In value terms, Japan ($X) constituted the largest supplier of motor vehicle chassis fitted with engines to Ecuador, comprising 60% of total imports. The second position in the ranking was held by Brazil ($X), with a 13% share of total imports. It was followed by Colombia, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Japan amounted to -11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (-21.8% per year) and Colombia (-8.9% per year).

Import Prices by Country

In 2022, the average import price for motor vehicle chassis fitted with engines amounted to $X per unit, approximately equating the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average import price increased by 50% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Brazil ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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